Funding arb · Price arb /

AXS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.005%

Price spread now: BingX against SoDEX−0.009%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on SoDEX Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX AXS-USD	1.0724	0.0100	pay 0.0013% / 1h	15m 37s	$771	$3K	5x
Short	BingX AXS-USDT	1.0723	0.0100	get 0.0050% / 4h	1h 15m	—	$2.6M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against SoDEX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee SoDEXbpFee BingXbpOrdersPrice spread, now −0.009%Rate

Funding earned: $0
Price spread: −0.009% → 0.000%: −$0.93
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee BingX: 5 bp × 2 orders: −$10
Net: −$18.93
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: SoDEX: no order-book sample; BingX: live order book, 4 min ago. Net counts fees only.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy SoDEX no order-book sample	—	—	—	—	—
Sell BingX live order book, 4 min ago	4.19 bp	17.6 bp −$18	43.0 bp −$430	309.7 bp −$31.0K	485.4 bp −$242.7K

SoDEX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

AXS on 20 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective AXS/USDC PERP	−0.1014%	1h	1.0580	−1.343%	$1K	$48K	5.5x	as long as short
Orderly PERP_AXS_USDC	+0.0097%	4h	1.0720	−0.037%	$3K	—	10x	as long as short
Hyperliquid AXS	+0.0100%	1h	1.0730	+0.056%	$263K	$700K	5x	as long as short
Aster AXSUSDT	+0.0100%	4h	1.0723	−0.012%	$73K	$17K	10x	as long as short
Binance AXSUSDT	+0.0100%	4h	1.0721	−0.028%	$6.0M	$10.8M	75x	as long as short
Bybit AXSUSDT	+0.0100%	8h	1.0721	−0.028%	$3.7M	$4.3M	75x	as long as short
OKX AXS-USDT-SWAP	+0.0100%	4h	1.0724	0.000%	$1.4M	$3.0M	20x	as long as short
Gate AXS_USDT	+0.0100%	8h	1.0723	−0.009%	$849K	$630K	50x	as long as short
MEXC AXS_USDT	+0.0100%	4h	1.0721	−0.028%	$11.6M	$695K	50x	as long as short
KuCoin AXSUSDTM	+0.0100%	4h	1.0730	+0.056%	$588K	$288K	50x	as long as short

Show all 20 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget AXSUSDT	+0.0100%	4h	1.0720	−0.037%	$3.1M	$1.2M	50x	as long as short
BingX AXS-USDTshort	+0.0100%	4h	1.0723	−0.009%	—	$2.6M	—
Variational Omni AXS	+0.0100%	8h	1.0724	−0.004%	$36K	$953	—	as long as short
GRVT AXS_USDT_Perp	+0.0100%	4h	1.0730	+0.056%	$769K	$881K	10x	as long as short
SunX AXS-USDT	+0.0100%	4h	1.0721	−0.028%	$1K	$1.4M	20x	as long as short
SoDEX AXS-USDlong	+0.0100%	1h	1.0724	long leg	$771	$3K	5x
Extended AXS-USD	+0.0104%	1h	1.0718	−0.055%	$7K	$228K	10x	as long as short
BloFin AXS-USDT	+0.0110%	4h	1.0730	+0.056%	$278K	$30K	75x	as long as short
Lighter AXS	+0.0248%	1h	1.0754	+0.280%	$37K	$39K	5x	as long as short
Kraken Futures PF_AXSUSD	+0.0378%	1h	1.0733	+0.080%	$141K	$342K	20x	as long as short